I have seen many reasons for a senior to take out a Reverse Mortgage over the past years.One example has been to simply eliminate the current monthly mortgage payments against the home.
One client last summer tapped into a large amount of equity to pursue a design/invention he has patented. (He needed funds to finish the project).
I recently did a reverse mortgage for seniors in a triplex, that wanted the additional monthly tenure payments for traveling.
This type of financing has many options for a senior to help them financially.
This month I helped close a Reverse Mortgage for a family that I think is worth mentioning. A married senior couple in their Vancouver Washington home was on track to pay off their 30 year mortgage. Unfortunately they found themselves in a situation where they have now taken on the responsibility of raising their grandchildren. Expenses had gotten out of control, and they became default on their mortgage. Due to strict lending guidelines, and limited income since they are both retired, a typical refinance to avoid foreclosure wasn’t possible.
I am happy to share that a Reverse Mortgage was able to solve their financial situation. We were able to satisfy the past due balance with the homes lender, and avoid the home from being sold on the courthouse steps. Now there is Reverse Mortgage in place and no worries of a mortgage payment again. It feels great to have been able to help this family facing a possible foreclosure and ultimately losing their home.
Remember, Credit Scores and Income is not factors in a Reverse Mortgage. This loan is a great tool and qualification is based on Age and Equity of your property.
Please feel free to call or email me anytime to see if this loan could be a good option for you.
Bryan Husen email: Bhusen@sunsetmortgageco.com
This type of financing has many options for a senior to help them financially.
This month I helped close a Reverse Mortgage for a family that I think is worth mentioning. A married senior couple in their Vancouver Washington home was on track to pay off their 30 year mortgage. Unfortunately they found themselves in a situation where they have now taken on the responsibility of raising their grandchildren. Expenses had gotten out of control, and they became default on their mortgage. Due to strict lending guidelines, and limited income since they are both retired, a typical refinance to avoid foreclosure wasn’t possible.
I am happy to share that a Reverse Mortgage was able to solve their financial situation. We were able to satisfy the past due balance with the homes lender, and avoid the home from being sold on the courthouse steps. Now there is Reverse Mortgage in place and no worries of a mortgage payment again. It feels great to have been able to help this family facing a possible foreclosure and ultimately losing their home.
Remember, Credit Scores and Income is not factors in a Reverse Mortgage. This loan is a great tool and qualification is based on Age and Equity of your property.
Please feel free to call or email me anytime to see if this loan could be a good option for you.
Bryan Husen email: Bhusen@sunsetmortgageco.com
Direct at 503-594-1131
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